NIESTETAL (dpa-AFX) - Inverter manufacturer SMA Solar returned to profitability in the first half of the year. All three business divisions returned to profitability earlier than planned, Chief Financial Officer Barbara Gregor said Thursday in Niestetal, according to a statement. And overall, the group was also in the black with a profit of €51.8 million in the second quarter, following a loss of €13.6 million a year earlier. SMA had already raised its annual forecast at the end of June and announced earnings ranges for the operating business development expected in the first half of the year.

According to the final figures, sales in the second quarter rose by almost 64 percent year-on-year to €411.7 million. Of this, 55.7 million euros remained before interest and taxes (Ebit), compared to an operating loss of 8.3 million euros a year earlier. For the full year 2023, sales are expected to reach 1.7 to 1.85 billion euros and operating profit 190 to 230 million euros./lew/men